104/37-39 Station Road, Cheltenham, Vic 3192

**INVESTORS ONLY**
This apartment is a 14-minute walk from Westfield Southland shopping centre, 300m from Cheltenham train station and 4.3 km from Beaumaris Beach.
The apartment is only 5 years old and has been impeccably maintained, with some brand new carpet just being installed. The property has just gone through its rent review leaving you with 4% renal increases all the way until 2021.

Lease Details:
Rent as of 28/1/17: $566.93 per week ($29,480.38 per annum)
Next Rent Increase: 28th Jan 2018
Return as of 28/1/17: 7.1% Gross / Net 6.64%
Lease Terms: Lease to 27/01/2021 plus 6 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2021)

Approximate Owner Outgoings:
Council Rates: $1161 pa
Water Rates: $670
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund: $111 p/a